The five largest banks issued energy-saving emission reduction loans worth RMB 100 billion

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According to data released by the China Banking Regulatory Commission on the 26th, the five major Chinese banks — including the Industrial and Commercial Bank of China, the Agricultural Bank of China, the China Construction Bank, the Bank of China, and the Bank of Communications — provided a total of 106.344 billion yuan in financing for key energy-saving and emission reduction projects in 2023. This reflects a growing commitment by the banking sector to support environmental sustainability and green development initiatives. As of the end of 2023, major financial institutions had issued medium- and long-term loans totaling 1.7 trillion yuan to sectors such as petroleum refining, chemicals, construction materials, steel, non-ferrous metals, and power generation. Compared to the beginning of the year, this represents an increase of 255.8 billion yuan, or a 17.7% rise compared to the same period in the previous year. These figures highlight the continued focus of China's banking system on supporting strategic industries while aligning with national environmental and economic goals. The expansion in lending to these key sectors underscores the government’s efforts to promote industrial upgrading and reduce carbon emissions, as part of broader climate action plans. Financial institutions are playing a crucial role in channeling capital toward sustainable development, ensuring that economic growth is both efficient and environmentally responsible.

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